When it comes to opportunity, this exquisite family residence is hard to beat, offering creative types the chance to take a period beauty into the modern era with some contemporary finesse, as well as the opportunity to redevelop in Melbourne's prized inner north on a 481sqm (approx.) corner block(STCA). Occupying a generous 481sqm (approx.) corner block with dual frontages measuring 13m (approx.) along Second Avenue and 36.6m (approx.) along Fourth Avenue, you could subdivide the block and build a pair of luxury townhouses with no common land (STCA). In doing so, both properties will be free of any body corporate and will also enjoy outstanding access to the buzzing Sydney Road strip and its collection of bars, eateries and boutique shops, Moreland & Anstey train stations, the No. 8 & 19 trams, parks, Citylink, schools and the CBD. Just because you can develop, it doesn't mean you have to, particularly considering the prospect of adding a modern touch to this timeless gem and watching your family grow comfortably ever after. Flaunting a wealth of original period detail that includes soaring 10ft ceilings with decorative plasterwork, internal leadlight glass doors, large windows and more, a great deal of flexibility and functionality also defines the sizeable two-storey floorplan, featuring two separate living areas, two large bedrooms upstairs (main with private balcony with views) and a further two spacious bedrooms downstairs. A welcoming formal lounge could easily be converted into a fifth bedroom should the need arise, while a big and bright open-plan living/dining domain featuring a gas combustion heater and well-appointed kitchen with walk-in pantry unites the household in the heart of the home. Enjoy the soothing nature of the leafy backyard that's punctuated with brick-paved paths, while a brick-paved outdoor entertaining area is ideal for relaxed BBQ gatherings with friends. Featuring a bright period family bathroom downstairs, central powder room upstairs that could be incorporated into a potential second bathroom, split-system cooling and polished timber floorboards, dare to dream!